Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 9 November 2022 4:23 pm

  Dollar halts losses ahead of midterm results

  

  The dollar settled near a two-month low against the euro on Wednesday as investors awaited the results of the US midterm elections and inflation data due this week that will guide speculation on the path of a future US interest rate hike. Cryptocurrencies are also high on investor interest, stabilizing …

  Read More »
• 9 November 2022 3:23 pm

  China’s producer prices contracted for the first time in two years

  

  According to official data, China’s producer price index deflated for the first time since 2020, affected by lower iron and steel prices. The Producer Price Index, which measures the prices of raw materials and other input costs, shrank 1.3% in October from a year ago, a Reuters poll showed, slightly …

  Read More »
• 9 November 2022 1:44 pm

  European shares drop, eyes on US midterm election results

  

  European shares fell on Wednesday, though gains by Germany’s Printage limited losses, while investors awaited the results of the US midterm elections to see the course of US policy. The pan-European Stoxx 600 index was down 0.2 percent by 0813 GMT. Shares in Printage Chemical Distribution rose 1.6 percent after …

  Read More »
• 9 November 2022 12:25 pm

  Nikkei retreats from two-month high, dragged down by energy shares

  

  The Nikkei index closed lower on Wednesday after approaching a two-month high in the previous session, and Nintendo shares fell on lower profits as investors cautiously awaited US inflation data to speculate on the path of a future US interest rate hike. The Nikkei’s losses increased in the evening session, …

  Read More »
• 9 November 2022 11:51 am

  Gold retreats from a month’s peak as the dollar and US bond yields rise

  

  Gold fell on Wednesday from a one-month high hit in the previous session. Yet, prices remained in a relatively narrow range, as investors remain cautious in anticipation of US inflation data due this week. Spot gold fell 0.2 percent to $1,709.60 an ounce by 0644 GMT. US gold futures fell …

  Read More »
• 9 November 2022 10:26 am

  Oil falls on rising US inventories, fears of COVID-19 in China

  

  Oil prices fell on Wednesday after data showed that US crude stocks rose more than expected amid fears that demand for fuel will be dented by the increase in Covid-19 cases in China, the world’s largest importer of crude. Brent crude futures fell 44 cents, or 0.5 percent, to $94.92 …

  Read More »
• 9 November 2022 2:29 am

  Market Drivers – US Session 08/11/2022

  

  There was no obvious catalyst that specifically brought about the US Dollar’s decline, although the positive performance of US shares and easing government bond yields put pressure on the dollar after Wall Street’s opening. The yield on the 2-year Treasury note touched an intraday low of 4.65% after peaking at …

  Read More »
• 9 November 2022 1:54 am

  What could Congress, House midterm elections mean for American economy?

  

  Tuesday’s midterm elections coincide with turbulent economic weakness in the United States amid accelerating recession-linked predictions as well as ongoing yield curve inversion. The results of Tuesday’s election will determine the makeup of a Congressional body that holds the powers to direct, guide and enact policies that will basically change …

  Read More »
• 9 November 2022 12:57 am

  Election Day Hits as Economic Optimism Dropped

  

  Economic Optimism, Presidential Leadership and National Outlook indexes have dipped for the second consecutive month as Financial Related Stress improvesCoinciding with election day, the monthly IBD/TIPP Economic Optimism Index, a leading national poll on consumer confidence, dropped for the second straight month, moving from 41.6 in October to 40.4 in …

  Read More »
• 9 November 2022 12:27 am

  WTI retreats below $90 on concerns about China, US elections

  

  Oil price retreated on fresh fears about Chinese demand. The US dollar’s reversal has failed to support crude prices. WTI falls beyond 2% on the day to hit session lows near $90.00. Oil prices have extended losses for the second consecutive trading day on Tuesday, as hopes about a relaxation …

  Read More »
• 8 November 2022 11:23 pm

  BoE’s Pill Signals Further Rate Hikes

  

  The Bank of England is pondering further raise interest rates due to concerns that inflation could become woven into the British economic activities, despite the growing risks of a prolonged recession according to BoE’s chief economist Huw Pill.Pill noted that there was “still more to do” to tackle soaring inflation …

  Read More »
• 8 November 2022 11:08 pm

  Gold set to close with over $38 gain in one big day

  

  Gold and silver prices are sharply jumping up, with gold hitting a four-week high and trading back above $1,700.00 in late-morning US trading Tuesday and even to $1,713.34 at the time of writing versus the pervious closing price at $167548 per ounce on Monday.Silver hit a more-then-four-month high today. The …

  Read More »
• 8 November 2022 10:17 pm

  GBP/USD rallies near 1.1600 as the US dollar dives

  

  The British pound rushed higher during Tuesday’s US session, bouncing off the 1.1470 area to erase daily losses and session highs right below 1.1600 as the Americans head to the polls.The sterling has abandoned previous weakness and jumped to session highs near 1.1600. the pair is trading at 1.158 at …

  Read More »